Headlines

Robert Samuelson

The U.S. may become energy-independent after all

Together, rising oil production and shrinking demand should dramatically reduce U.S. imports, says the IEA. In 2011, they had already fallen to 9.5 million barrels a day, roughly half of U.S. consumption. But by 2035, the IEA expects net imports of only 3.4 million barrels a day. The decline is split roughly between higher production — including biofuels — and savings from greater fuel efficiency.

The IEA sees profound consequences. For starters, the long-standing U.S. trade deficit will narrow and might disappear. In 2011, oil imports represented two-thirds of the deficit in goods. While the United States will use less imported oil, it should also become a substantial exporter of liquefied natural gas (LNG); until a few years ago, it “was expected to become a major importer of LNG.” Abundant and cheap natural gas should support a manufacturing revival by attracting energy-intensive industries such as “aluminum, paper or iron and steel, or . . . petrochemicals . . . where feedstock costs can represent over 80 percent of total operating expenses.”

Within a few decades, the United States could attain Nixon’s once-impossible goal.

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The US will be more or less forced to become energy-independent after the Middle East lights off thanks to Obama’s incompetence.

Unfortunately, we’ll be faced with a number of problems all at once. Such as the likely fact that our Big Oil Reserves Right Here(tm) have been exaggerated, the liberals have prevented any refinery building, not to mention the shortages in the short term…

Bah. The new discoveries in the Green River oil shale formations are estimated around 3 trillion barrels, 2 trillion more than we’ve used in the last 100 years, but you can bet your overfed, racist butt that Bark and the ‘rats will never allow us to really go after it.

Besides, that “savings” in current oil usage comes at the expense of burning our food grains so we can feel good about saving the environment or something.

What will happen to our forest, snail fish, old drunks air and water?? We can’t have that! Let the poor remain poor or where will we DO Social Justice?
(Lyrics sung by Liberals around Girl Scout campfire while roasting marsh mallows.)

These developments are taking place in spite of the policies of the Obama Administration. New technologies, new discoveries of natural gas/LNG et cetera. As Samuelson explains, geology and technology are pushing this.

Sorry, Mr. Obama deserves a little credit – he gets a tip of the hat for enacting higher fuel efficiency standards – for these developments but not much more.